Wedge Capital Management L L P NC Makes New Investment in Murphy USA Inc. $MUSA

Key Points

• Wedge Capital Management initiated a Murphy USA position by purchasing 67,158 shares worth approximately $36.2 million, representing 0.36% of the company. Institutional investors and hedge funds collectively own 80.81% of MUSA.
• Analyst sentiment has improved, with recent upgrades and price-target increases. Murphy USA carries a “Moderate Buy” consensus rating and an average target price of $606.89.
• Murphy USA exceeded quarterly expectations, reporting $11.27 in EPS versus the $9.95 consensus and $6.81 billion in revenue, up 36% year over year. Shares opened at $544.92, down 1.4%, while insiders have sold about $2.5 million of stock over the past three months.

Wedge Capital Management L L P NC purchased a new stake in Murphy USA Inc. (NYSE:MUSA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 67,158 shares of the specialty retailer's stock, valued at approximately $36,189,000. Wedge Capital Management L L P NC owned 0.36% of Murphy USA as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Huntington National Bank lifted its stake in Murphy USA by 106.7% in the fourth quarter. Huntington National Bank now owns 62 shares of the specialty retailer's stock valued at $25,000 after buying an additional 32 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Murphy USA by 423.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 68 shares of the specialty retailer's stock worth $28,000 after buying an additional 55 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Murphy USA during the 4th quarter worth about $29,000. WPG Advisers LLC grew its position in shares of Murphy USA by 148.5% during the 4th quarter. WPG Advisers LLC now owns 82 shares of the specialty retailer's stock worth $33,000 after buying an additional 49 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Murphy USA in the 4th quarter valued at about $33,000. 80.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MUSA has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Murphy USA from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $550.00 to $625.00 in a research note on Wednesday, July 1st. The Goldman Sachs Group raised shares of Murphy USA from a "sell" rating to a "neutral" rating and upped their target price for the company from $380.00 to $550.00 in a research note on Monday, July 6th. Capital One Financial began coverage on shares of Murphy USA in a report on Monday, June 22nd. They issued an "overweight" rating and a $710.00 target price on the stock. KeyCorp lifted their price target on shares of Murphy USA from $600.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Finally, Weiss Ratings raised shares of Murphy USA from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, June 30th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $606.89.

Insiders Place Their Bets

In other Murphy USA news, SVP Renee M. Bacon sold 1,050 shares of Murphy USA stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $529.44, for a total value of $555,912.00. Following the transaction, the senior vice president owned 3,083 shares of the company's stock, valued at approximately $1,632,263.52. The trade was a 25.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Keith A. Emery sold 517 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $574.49, for a total transaction of $297,011.33. Following the completion of the transaction, the senior vice president owned 500 shares of the company's stock, valued at $287,245. This trade represents a 50.84% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 4,567 shares of company stock worth $2,494,673. Company insiders own 9.02% of the company's stock.

Murphy USA Trading Down 1.4%

NYSE MUSA opened at $544.92 on Wednesday. The firm has a market cap of $10.06 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.62 and a beta of 0.28. The company has a debt-to-equity ratio of 2.77, a current ratio of 0.92 and a quick ratio of 0.54. The stock's 50-day moving average is $577.29 and its 200-day moving average is $511.89. Murphy USA Inc. has a one year low of $349.83 and a one year high of $636.04.

Murphy USA (NYSE:MUSA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The specialty retailer reported $11.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.95 by $1.32. Murphy USA had a return on equity of 96.01% and a net margin of 2.87%.The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the firm earned $7.36 EPS. Murphy USA's quarterly revenue was up 36.0% compared to the same quarter last year. Sell-side analysts anticipate that Murphy USA Inc. will post 33.84 earnings per share for the current fiscal year.

Murphy USA Company Profile

Murphy USA is a leading downstream marketer of gasoline, diesel and convenience store products in the United States. Headquartered in El Dorado, Arkansas, the company was originally established as part of Murphy Oil Corporation and was spun off as an independent public entity in 2013. Since its separation, Murphy USA has focused on retail fueling services and convenience offerings designed to deliver value and convenience to consumers.

The company's primary operations center on two retail formats.

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